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Jan 13, 2013
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tdd#: 1-800-345-2550 >>> the debt ceiling is the next self-inflicted crisis that congress needs to deal with the debt limit is not like a credit card. it is simply not. it makes me crazy. when republicans and democrats alike, including the president, continue to use this misleading analogy. it's also not the same as your household budget with a few zeros taken out. for those who don't remember the last time congress pushed us past the debt ceiling, here's how it works. congress and the president spend money by creating bills and signing them into law. that is when the money is committed. last year, the u.s. government spent $3.8 trillion. two-thirds of that, the green came from revenue. the rest of it, the red, came from borrowing, the deficit. the sum total of all of these annual deficits, plus the interest is national debt. today the national debt extends at $16.4 trillion. the treasury is empowered to borrow money to make up for that shortfall. but only up to a certain amount. that's the debt ceiling. keep it in mind, the treasury does not make decisions about how the money is spent.
tdd#: 1-800-345-2550 >>> the debt ceiling is the next self-inflicted crisis that congress needs to deal with the debt limit is not like a credit card. it is simply not. it makes me crazy. when republicans and democrats alike, including the president, continue to use this misleading analogy. it's also not the same as your household budget with a few zeros taken out. for those who don't remember the last time congress pushed us past the debt ceiling, here's how it works. congress and the...
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Jan 14, 2013
01/13
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so these massive spending cuts will coincide with another debt ceiling battle. is there anything in this debacle that we can all agree on? >> house speaker john boehner had kind of a rough week here. the at a party folks not happy with the deal that he struck >> the president was able to get the speaker to undo everything he had promised he would do >> where are you? mr. speaker, we need leadership. >> tonight i am ashamed, shame on you, mr. speaker. >> jon: republican or democrat, senator or congressman, team edward or team jacob, everyone agrees john boehner sucks. at least we can be assured that as the incoming congress votes for a new speaker of the house, it's clear what the outcome is going to be. >> john boehner won re-election as house speaker today. >> jon: oh, boy. (train whistle blowing) >> jon: welcome back to the show. listen. as you may recall, a couple months ago america was hit by two major disasters. one of them natural, hurricane sandy and one of them somewhat man made the republican majority in the house of representatives. the second of those
so these massive spending cuts will coincide with another debt ceiling battle. is there anything in this debacle that we can all agree on? >> house speaker john boehner had kind of a rough week here. the at a party folks not happy with the deal that he struck >> the president was able to get the speaker to undo everything he had promised he would do >> where are you? mr. speaker, we need leadership. >> tonight i am ashamed, shame on you, mr. speaker. >> jon:...
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Jan 19, 2013
01/13
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one is the debt ceiling. the other is the cr that comes due on march 27th. the cr might be a the better place to use that leverage. but one place or another we need to decide that both sides need to come together at the table of common sense and begin to put america on a sustainable course of economics. >> what does a guy like you say then to the tougher parts of the republican party? not as many are in the senate as in the house. you talk about simpson bouls. i agree. most americans would find simpson/bowles a little tough. there are some difficult things in there most republicans and democrats wouldn't even put forward. the vice presidential candidate, paul ryan, was one of those guys on that committee and didn't vote for it. how do we get hard line republicans to say these are tough decisions, they're not going to be palatable, they're way further than most republicans would go in terms of debt spending cuts? >> ali, we have a tough problem. whatever solutions we come up with are going to be tough. but i would prefer tough solutions to a tough situation t
one is the debt ceiling. the other is the cr that comes due on march 27th. the cr might be a the better place to use that leverage. but one place or another we need to decide that both sides need to come together at the table of common sense and begin to put america on a sustainable course of economics. >> what does a guy like you say then to the tougher parts of the republican party? not as many are in the senate as in the house. you talk about simpson bouls. i agree. most americans...
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Jan 18, 2013
01/13
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jay carney at the white house called for passing a clean debt limit deal without delay. leading republicans are saying without a budget that includes a real plan to reduce the deficit, the nation faces the threat of a credit downgrade. bret? >> bret: mike, thank you. sticking with the tet and deficit issues, lawmakers on both sides of the aisle are talking about what to do in a worse case scenario. the government not having enough money to pay its bills. chief political correspondent carl cameron reports on a possible short-term solution that is getting a long look by some people. >> with the white house refusing to negotiate spending cuts and the democrat controlled senate unlikely to pass a budget as part of a long-term deal to raise the tet ceiling, pat toomey of pennsylvania is reintroducing legislation he says will avert the u.s. from defaulting on the debt. >> we must prioritize three categories of payments. one would be debt service, interest on the debt so we would haven't default. a second would be social curt payment to seniors so they don't worry whether the c
jay carney at the white house called for passing a clean debt limit deal without delay. leading republicans are saying without a budget that includes a real plan to reduce the deficit, the nation faces the threat of a credit downgrade. bret? >> bret: mike, thank you. sticking with the tet and deficit issues, lawmakers on both sides of the aisle are talking about what to do in a worse case scenario. the government not having enough money to pay its bills. chief political correspondent carl...
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Jan 18, 2013
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it's not just raising the debt ceiling that he's going to have to deal with. but he's going to have to negotiate with the republicans and perhaps try to change the tax code. all of these things are things he's already signaled he wants to do. what's fascinating is that this is a president who wanted to be a domestic president in the last -- in his first term and he was saddled with an economic situation and two wars to deal with. now is a shot to be that domestic president and make some really big change. but he's going to have to work with republicans in the house in order to get big things accomplished. >> and clearly what he wants to do is have some influence on voters. and though the official announcement is expected today, we do know that obama for america is going to become this nonprofit supporting his agenda. what kind of influence could this have? >> well, i think if you're an obama supporter, you hope it has more influence than it did or what they tried to do during his first term. they talked a lot about this leveraging his campaign which everyone,
it's not just raising the debt ceiling that he's going to have to deal with. but he's going to have to negotiate with the republicans and perhaps try to change the tax code. all of these things are things he's already signaled he wants to do. what's fascinating is that this is a president who wanted to be a domestic president in the last -- in his first term and he was saddled with an economic situation and two wars to deal with. now is a shot to be that domestic president and make some really...
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Jan 15, 2013
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you have the debt ceiling issue. all of those are in the mix right now because they are all coming to a head at the same time. we are going to need to deal with all of them. can't we be responsible? can't we work collaboratively on this? if we can -- hearing from the white house that, you know, you go figure it out. it is not my problem. i didn't have anything to do with this. that's not the way to go. >> let me ask you about your job as the head of the republican campaign committee. will you support all incumbent house republicans no matter what under all circumstances? or -- is your job to eliminate primary opposition? >> you know, i love how you -- you know, we try to talk in absolutes here. we are a member of organization that supports republicans and republican members of the house. here's when we do and we go out and recruit. i think, you know the voters want to check and balance in washington. we are going to offer a positive alternative. great candidates. we now -- second biggest majority since world war ii c
you have the debt ceiling issue. all of those are in the mix right now because they are all coming to a head at the same time. we are going to need to deal with all of them. can't we be responsible? can't we work collaboratively on this? if we can -- hearing from the white house that, you know, you go figure it out. it is not my problem. i didn't have anything to do with this. that's not the way to go. >> let me ask you about your job as the head of the republican campaign committee. will...
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Jan 21, 2013
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with the debt ceiling. how he is putting his foot down and moving forward, all of the i shall shoes that we want to see changed. i think this is the time. we have a new president. and there's a song that says what are they doing in heaven today? and i'm sure dr. martin luther king, jr., today was cheering the watch party. >> the president, as we're speaking, you're seeing the president is leaving the viewing stand, the parade is over. and he is leaving the viewing stand. that's a live shot of the president and the vice president. leaving the viewing stand and shortly we'll go in and get prepared for the inaugural bats tonight. there will be two of them that the president has publically announced. he will attend the military ball and the regular presidential ball. governor rendell, you've watched and worked with presidents as governor, as the chair of the dnc. tell us from your vantage point the difference between president obama and 2009 and his first inaugural and the president obama we saw today? >> well,
with the debt ceiling. how he is putting his foot down and moving forward, all of the i shall shoes that we want to see changed. i think this is the time. we have a new president. and there's a song that says what are they doing in heaven today? and i'm sure dr. martin luther king, jr., today was cheering the watch party. >> the president, as we're speaking, you're seeing the president is leaving the viewing stand, the parade is over. and he is leaving the viewing stand. that's a live...
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Jan 17, 2013
01/13
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you've already seen him step up in a major way with the debt ceiling. he's been clear on what he expects going forward. he was very clear about what he expects for the fiscal cliff negotiations and we've seen him dealing with the sandyhook kind of crisis with signing executive actions. i think the president is going to continue to do that and the republican party is just going to have to compromise. >> maria, theresa and angela, thank you both for your time tonight. >> thank you, reverend. >> coming up, two big birthday surprises. today, from the first lady, you'll want to see what everybody is talking about. >>> but, first, 50 years ago, civil rights activists medgar evers was murdered in mississippi. his widow vowed to carry on his legacy. and on monday, she'll make history at president obama's inauguration. we are honored to have her join us live tonight. she's still the one for you - you know it even after all these years. but your erectile dysfunction - you know,that could be a question of blood flow. cialis tadalafil for daily use helps you be rea
you've already seen him step up in a major way with the debt ceiling. he's been clear on what he expects going forward. he was very clear about what he expects for the fiscal cliff negotiations and we've seen him dealing with the sandyhook kind of crisis with signing executive actions. i think the president is going to continue to do that and the republican party is just going to have to compromise. >> maria, theresa and angela, thank you both for your time tonight. >> thank you,...
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Jan 15, 2013
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ceiling which tends to be popular. people -- you know, the american public, they hear debt ceiling and they think no, let's not do that. that sounds awful to give government more money to spend. he's trying to turn it around. but it absolutely is a dynamic that he exemplploited when he w senator. >> robert costa, let's look at this for a minute. republicans have a tricky situation. because the country does not want us to default. and this whole business of managing accounts and prioritizing, there's 80 million payment accounts. i know the interest on the debt will be paid, but to some extent the gop has got to watch itself, robert. they could come really at the wrong end of a massive public relations blunder. >> that's exactly right, larry. the president's press conference today really was first battle in this public relations war. what matters is that the president is out there for an hour, making his case to the american people. what the republicans need to do a better job is making their case. now, it's easy to poin
ceiling which tends to be popular. people -- you know, the american public, they hear debt ceiling and they think no, let's not do that. that sounds awful to give government more money to spend. he's trying to turn it around. but it absolutely is a dynamic that he exemplploited when he w senator. >> robert costa, let's look at this for a minute. republicans have a tricky situation. because the country does not want us to default. and this whole business of managing accounts and...
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Jan 19, 2013
01/13
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with regard to the debt ceiling, here we go again. the republican party, if it goes along with this deal in my opinion ought to change its name to the caveman party and boehner and mcconnell would be the cavemen in chief, because every time we come to this debt ceiling what do the republicans do? they give in. and every amount of money that this country spends is showing it's unsustainable. we've got to reform them and get our budget in order and we've got to get our spending under control. host: lori who is one of the 65 people on facebook who has commented on this this morning says that this makes the seventh debt ceiling plays the obama's term while the democratically-controlled senate hasn't passed a budget. it seems silly -- logical to me at but he'll -- by the way, it gives an advertisement to our plans for inauguration weekend. all-day coverage. you can tune in on sunday and monday for activities monday all day starting at 7:00 a.m. and sunday for the official swearing in at the white house. again, if you want more information
with regard to the debt ceiling, here we go again. the republican party, if it goes along with this deal in my opinion ought to change its name to the caveman party and boehner and mcconnell would be the cavemen in chief, because every time we come to this debt ceiling what do the republicans do? they give in. and every amount of money that this country spends is showing it's unsustainable. we've got to reform them and get our budget in order and we've got to get our spending under control....
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Jan 19, 2013
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ceiling, but if he is to do -- with regard to the gun control and universal background checks and he is going to have to spend a great deal of time and a great deal of political capital to get that done. >> the white house says a few things about this. one thing is he has his coalition that elected him by a strong margin behind him and they'll amplify that coalition as much as they can to try and push action, but they're looking at this as a three-track deal and the immigration reform measures they'll start pushing plus gun control. >> in four or five months he becomes a lame duck president. >> pretty much. >> we'll come back to you guys later in the show and i want to talk about what happened in the gop retreat, as well. >> coming up, though, 50 years ago she predicted america would not see an african-american president in her lifetime. maya angelou will join me in just a few minutes. >>> also the little girl that stood beside president obama as he unveiled the new gun proposals and the letter that helped move a president to action. 8-year-old henna zija will join us next. >> mr. pr
ceiling, but if he is to do -- with regard to the gun control and universal background checks and he is going to have to spend a great deal of time and a great deal of political capital to get that done. >> the white house says a few things about this. one thing is he has his coalition that elected him by a strong margin behind him and they'll amplify that coalition as much as they can to try and push action, but they're looking at this as a three-track deal and the immigration reform...
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Jan 21, 2013
01/13
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we know we will deal with this year. debt ceiling, entitlement reform, et cetera, et cetera. right and left, republicans and democrats are diametrically opposed with their orthodoxy. democrats more moderate with republicans on certain things. republicans are more send activity that work with democrats. in the wake of the 2012 election as we look forward what is happening with the president's second term there are historical realities. the country is system of two parties and they compete hard. they compete hard for their agendas and it is not going to be an easy year. a second term is difficult one. the first year of four is really the best, some say only opportunity to pass legislation effectively. after the second year of a second term, on comes the midterm, 2014 will be a very, very important time which will determine by who is ted anated aho wi, what the republican and democratic presidential candidates look like in the back of president obama's second term and who his successor will be. something that has not happened in many years, not at all inconceivable. everyone rec
we know we will deal with this year. debt ceiling, entitlement reform, et cetera, et cetera. right and left, republicans and democrats are diametrically opposed with their orthodoxy. democrats more moderate with republicans on certain things. republicans are more send activity that work with democrats. in the wake of the 2012 election as we look forward what is happening with the president's second term there are historical realities. the country is system of two parties and they compete hard....
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Jan 15, 2013
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should be the debt ceiling or the continuing resolution to fund the government or sequestration? caller: the continuing revolution to keep the government going -- resolution. there are many departments we don't need. i was showing my grandchildr the debt clock, telling him how much money he would know when he becomes a taxpayer. he said he does not want to become a taxpayer. this is taxation without representation. they have to get this under control. they need a dyiet. host: jason is a democratic caller in brooklyn, new york. caller: i think the debt is negotiable. it has been high before. host: what did you say? caller: it ought to be negotiable. i think obama needs to the finish his job. spending programs for poor neighborhoods and give other people a chance in this country. the tea party and right-wing republicans, it is obvious they are racist and nobody wants to work with them. in the next four years they have to get it right, because asians, hispanics, and african-americans make up the majority of this country now. so they had better get it right. host: the new york times
should be the debt ceiling or the continuing resolution to fund the government or sequestration? caller: the continuing revolution to keep the government going -- resolution. there are many departments we don't need. i was showing my grandchildr the debt clock, telling him how much money he would know when he becomes a taxpayer. he said he does not want to become a taxpayer. this is taxation without representation. they have to get this under control. they need a dyiet. host: jason is a...
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Jan 21, 2013
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he seems to have been a force forex tending debt ceiling in order to gain some time to negotiate. i think all of that argues in favor of some time to get the right things done. >> chuck gabriel, how did you read or hear the president's passage where he talked about medicare and social security and he said the commitments we make to each other through medicare, medicaid, social security, these things do not zap our initiative, they strengthen it. they do not make us a nation of takers, they free us and make this country great. that felt to me like a bit of a stake in the ground by the president. >> yeah. you know, the president last week cast doubt on whether republicans believe in the principles and functions of social security and medicare, etc. so in some respects i think this is kind of a new, improved version of what president clinton did when he was facing a republican congress. he was talking about family values back in the '90s. he said i want a government that values families. and as the president said, we don't need to relitigate this today, but we need a government that
he seems to have been a force forex tending debt ceiling in order to gain some time to negotiate. i think all of that argues in favor of some time to get the right things done. >> chuck gabriel, how did you read or hear the president's passage where he talked about medicare and social security and he said the commitments we make to each other through medicare, medicaid, social security, these things do not zap our initiative, they strengthen it. they do not make us a nation of takers,...
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Jan 18, 2013
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>> what it might have been had there not be crisis after crisis dealing with the debt ceiling. >> you said last night, you've got to put on a yogi bear costume to make sense of it. >> returning a lot to shareholders. >> one wonders. >> $12 million they're talking about. >> they have been increasing, of course, ever since the huge cuts that had to take place. what is it going to be now, four years ago, right? >> that period, $6. >> yeah. >> march of '09. amazing, coming up on the four-year anniversary. >> do you ever worry about your paycheck? >> yeah. i think you worry about money you had in any bank account or anything. sure. ge was to cushifocused in the ff '08, that was the moment where it could all come to -- >> that was after the ge bailout. >> sorry, not to revisit the -- >> we have to remind people where we came from. tim geithner leaving, david faber is worried about his paycheck. >> speaking of paychecks, let's talk morgan stanley. wall street firm reporting fourth quarter earnings 45 earlier on squawk, james gorman said his firm is poised to improved market environment. whic
>> what it might have been had there not be crisis after crisis dealing with the debt ceiling. >> you said last night, you've got to put on a yogi bear costume to make sense of it. >> returning a lot to shareholders. >> one wonders. >> $12 million they're talking about. >> they have been increasing, of course, ever since the huge cuts that had to take place. what is it going to be now, four years ago, right? >> that period, $6. >> yeah. >>...
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with the debt ceiling, they could be downgrading the united states, the watch for that. once again the debt ceiling. i want to point out one thing. the last time we went -- whole drama about the debt ceiling, we got downgraded, do you know what happened to the interest rates? they went down dramatically. yeah. the -- treasury market actually went up. happened to be the same time that europe was going through its crisis. and -- the safest investment in the world seen at the time is still by many people in the world is the u.s. government debt despite the huge amounts of it we continue to borrow. >> are you still traveling around the world? >> yeah. i'm the chief international correspondent. fourth quarter was dominated by domestic news. i did travel in the fourth quarter. we are waiting to see if the italian elections with berlusconi should be interesting. waiting for chavez the die. >> that should be a party. >> always interesting. >> come back when you can. >> if you can stick around as much as possible so we don't have to talk to brian sullivan. >> i was trying to say
with the debt ceiling, they could be downgrading the united states, the watch for that. once again the debt ceiling. i want to point out one thing. the last time we went -- whole drama about the debt ceiling, we got downgraded, do you know what happened to the interest rates? they went down dramatically. yeah. the -- treasury market actually went up. happened to be the same time that europe was going through its crisis. and -- the safest investment in the world seen at the time is still by many...
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Jan 21, 2013
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with the debt ceiling. he broke the republicans's arms on that. >> still got the votes. >> sandy relief who will disagree on that? >> a lot of of people. remember how chris christie was screaming? >> screaming at -- >> house republicans. >> right. >> what happens is up until now you had something called the hastert rule in the house. republicans stood together. that has been demolished in the last month. it's going to continue to be demolished when votes on immigration comes up and solving the sequestration money comes up and also on the budget. the real test for the president is whether he is going to go up against his own caucus to do things on medicare social security and a few other issues. >> we are looking at the president on a motorcade going down pennsylvania avenue. every time i look at the inaugural route, i can't help but go back to january 20th 1977 and jimmy carter breaking precedent and stepping out of the car and shaking hands with the american people. >> he walked the whole route. >> his fou
with the debt ceiling. he broke the republicans's arms on that. >> still got the votes. >> sandy relief who will disagree on that? >> a lot of of people. remember how chris christie was screaming? >> screaming at -- >> house republicans. >> right. >> what happens is up until now you had something called the hastert rule in the house. republicans stood together. that has been demolished in the last month. it's going to continue to be demolished when...